Wells Fargo Banker Pleads Guilty To Helping Launder Millions For Sinaloa Cartel

Zero Hedge | May 17, 2019 at 5:10 PM
  • A 30-year-old Wells Fargo personal banker pleaded guilty on Thursday to knowingly opening bank accounts for people working with the Sinaloa cartel for money laundering purposes.
  • Between 2014 and 2016, money laundering organizations recruited people who would open bank accounts for the cartel’s drug money.
  • The drug money would be deposited into the bank accounts, also known as “funnel accounts,” in amounts below the threshold for regulatory reporting.